Climate Neutral Now

Climate Neutral Now
Name	Climate Neutral Now
Founded	2015
Founder	United Nations Framework Convention on Climate Change, Paris Agreement
Type	Initiative
Purpose	Promote voluntary emissions reductions and carbon neutrality
Headquarters	Bonn
Region served	Global
Parent organization	United Nations

Climate Neutral Now is an initiative launched to encourage United Nations Framework Convention on Climate Change actors, public institutions, non-governmental organizations, and private-sector entities to measure, reduce, and compensate greenhouse gas emissions through standardized methods and certified instruments. The initiative seeks alignment with the Paris Agreement goals while promoting engagement with Green Climate Fund, Global Environment Facility, and voluntary carbon markets such as those governed by Verified Carbon Standard and Gold Standard.

Overview

Climate Neutral Now was announced by the United Nations Framework Convention on Climate Change at the Conference of the Parties that advanced implementation pathways under the Paris Agreement and was positioned alongside mechanisms like the Clean Development Mechanism and discussions about cooperative approaches under Article 6. The initiative provides a platform for entities to register emissions inventories, pursue mitigation consistent with Intergovernmental Panel on Climate Change scenarios, and acquire offsets certified by standards from organizations including Gold Standard and Verified Carbon Standard. It interfaces with policy dialogues involving European Union negotiators, Small Island Developing States, and multilateral finance institutions such as the World Bank.

History and development

Climate Neutral Now emerged from preparatory processes for the United Nations Climate Change Conference, building on precedent instruments like the Clean Development Mechanism created under the Kyoto Protocol and voluntary programs promoted by United Nations Environment Programme and UN Global Compact. The initiative's development involved consultations with stakeholders including International Emissions Trading Association, national delegations from Kenya, Germany, Brazil, and civil society coalitions such as WWF and Greenpeace. Early implementation coincided with negotiations on market mechanisms during the Katowice Climate Package and subsequent rulebook deliberations at Bonn Climate Change Conference sessions.

Objectives and scope

The stated objectives include providing guidance for quantifying greenhouse gas footprints using protocols aligned with Intergovernmental Panel on Climate Change guidelines, fostering demand for mitigation outcomes from projects in countries listed under the Paris Agreement nationally determined contributions, and demonstrating pathways toward net-zero consistent with trajectories discussed by International Energy Agency and climate science reported by Intergovernmental Panel on Climate Change. The scope spans signatory partys, municipalities like Copenhagen, corporations such as Microsoft and Unilever that have pursued neutrality claims, and projects in developing countries often registered in registries maintained by Gold Standard and Verified Carbon Standard.

Mechanisms and implementation

Implementation relies on a three-step approach—measure, reduce, compensate—utilizing greenhouse gas accounting methodologies derived from Intergovernmental Panel on Climate Change guidance and standards overseen by organizations including ISO (notably ISO 14064), and registries such as those operated by Gold Standard and Verified Carbon Standard. Compensation mechanisms draw on certified emissions reductions produced by projects in sectors like renewable energy installations financed through partnerships with World Bank programs, reforestation projects involving United Nations Environment Programme collaborations, and technology transfer projects connected to Green Climate Fund funding. The initiative interfaces with voluntary carbon market actors including The Climate Group, Carbon Disclosure Project, and private registry platforms, while tracking progress against indicators referenced in reports by Intergovernmental Panel on Climate Change and International Renewable Energy Agency.

Participation and stakeholders

Participants include national partys to the United Nations Framework Convention on Climate Change, municipal governments, multinational corporations, financial institutions like European Investment Bank and Asian Development Bank, and civil society organizations including Oxfam and Friends of the Earth. Project developers from countries such as India, China, and Kenya supply mitigation outcomes, while standard setters like Gold Standard, Verified Carbon Standard, and market intermediaries such as IETA facilitate transactions. Donor coordination has involved entities like Green Climate Fund, Global Environment Facility, and philanthropic actors including Bill & Melinda Gates Foundation in climate-related funding and technical assistance.

Criticism and challenges

Critiques have focused on the rigor of offset quality, additionality assessment controversies reminiscent of debates over the Clean Development Mechanism, and potential for double counting debated during Article 6 negotiations under the Paris Agreement. Scholars and advocacy groups including Friends of the Earth and Transparency International have raised concerns about verification standards, permanence of sequestration projects, and the social impacts of land-based offsets in regions such as the Amazon Rainforest and communities represented by Indigenous and Tribal Peoples. Economists and policy analysts referencing the Intergovernmental Panel on Climate Change reports and studies from International Energy Agency caution that voluntary neutrality initiatives must be complemented by regulatory measures and deep decarbonization strategies implemented by national policymakers and multilateral institutions like the World Bank to meet long-term temperature goals contained in the Paris Agreement.

Category:United Nations initiatives